Many of the big fund managers are limited to trading large-cap shares on the ASX 200.
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Yesterday S&P Dow Jones Indices announced it was removing Bingo Industries Ltd (XASX: BIN) from the ASX 200. Subject to meeting the final conditions, Bingo will be acquired by Recycle and Resource Operations.
Next Friday, 16 July, Centuria shares will take Bingo’s place and join the ASX 200.
The real estate funds manager has $16.8 billion of assets under management (AUM). These cover 6 different asset classes in debt and equity markets, namely: office, industrial, Daily Needs Retail (DNR), Large Format Retail (LFR), healthcare and agriculture.
Breaking it down Centuria shares cover:
$5.4 billion of listed funds
$10.5 billion of unlisted funds
$900 million in its investment bonds business
What management said about the ASX 200 inclusion
Commenting on Centuria’s shares pending inclusion in the ASX 200, John McBain, Centuria Joint CEO said:
It’s pleasing to be included in the S&P/ASX 200 Index and we believe this is reflective of our transformational growth in recent years. Our growth strategy has included corporate acquisitions as well as direct real estate acquisitions. Our corporate acquisitions this year alone include a 50% interest in real estate debt fund provider, Bass Capital, and the merging with a $5 billion AUM real estate fund manager, Primewest.
Jason Huljich, Centuria Joint CEO added, “We have been very active over the past 12 months with over $1billion in industrial acquisitions… In addition, we have a strong $1.6 billion development pipeline which is helping create stock for new fund creation.”
What’s been going on with the Centuria share price?
The Centuria share price reached all-time highs on Monday, closing the day at $2.97 per share.
Over the past 12 months, Centuria shares have gained 72%, or more than 3 times the gains posted by the ASX 200 over that same time. Year-to-date, Centuria has continued to outperform, up 15% so far in 2021.
Should you invest $1,000 in Centuria right now?
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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.